A diamond drill program funded by Cameco (TSE) recently started on the Buckskin gold property owned 100% by Queenstake Resources (TSE) in Nevada.
The major has the right to earn a 60% interest in the property by funding a 3-year exploration and development program, which includes US$250,000 of expenditures this year.
Queenstake President Gordon Gutrath reports that the geological model on the property is similar to Amax’s Sleeper gold deposit 20 miles southwest. Previous work, including drilling, in the sinter cap area of Buckskin Mountain outlined gold values which Queenstake believes indicates precious metal vein zones possibly associated with high-grade, larger-tonnage vein or vein stockwork-hosted mineralization at depth.
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